With the controller the electric bill is not as bad as you would think mine is around 4.8kw and it melts aluminium really quick and once up to temperature it turns the element on for a few seconds then off for 4-5 seconds. I havent done the sums but I melt about 1.6 litres in approx 30 minutes. The big advantage is you can hold it until you need to pour.

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As it takes just under 30min to hit 750c but you have to remove the crucible to top it up as the aluminium melts down, so over all its running for about an hour, if i got me maths right 2000watts per hour at 11.620Kwh = 23.24p per melt